08/02/2011

Munich-based Allgeier Holding AG (ISIN: DE0005086300; WKN 508630) today signed an agreement with the shareholders of IT solution provider GEMED Gesellschaft für  medizinisches Datenmanagement mbH to acquire all the shares in the company. The purchase price for the Ulm (Germany) based company is in the lower single-digit million range; part  of the price will be an earn-out payment based on achieving future objectives. The transfer of shares (closing) is dependent on compliance with the usual contractual terms and is  expected to be completed within the next few days.

Through this acquisition of GEMED, Allgeier Group is further strengthening their market position and their existing service portfolio as an IT service provider for the healthcare market.  GEMED develops, produces and implements modular ‘Picture Archiving and Communication Systems’ (PACS) which are used in hospitals, radiology units and orthopaedic centres.

With over 500 systems installed in Germany and Switzerland, GEMED is a leading speciality supplier in the medical technology industry. In 2010, the company achieved sales of approx.  EUR 3 million and over the years, it has gained a track record of positive results and constant growth. The current owners of GEMED will serve as managing directors in the future.